Big Rapids VA Loan Rates, Closing Costs & Stats

Big Rapids, MI

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Big Rapids's 24 lenders originated 55 VA loans during 2024. The total origination value was $14,545,000, with an average VA loan value of $264,455.

    Big Rapids VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Big Rapids averaged 6.84% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Big Rapids's average VA mortgage closing costs are $4,976.

    The average rate for the prior week (2025-03-28) was 6.66% and one month ago for the week of 2025-02-28, the average rate was 6.53%.

    The average rate one year ago was 7.14%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.16%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Big Rapids VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Big Rapids level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 12 6.60% $6,241
    QUICKEN LOANS, LLC 6 6.20% $9,023
    UNITED WHOLESALE MORTGAGE, LLC 5 6.10% $6,207
    GUILD MORTGAGE COMPANY 3 6.63% $6,939
    FIRST COMMUNITY MORTGAGE, INC. 2 7.13% $2,508
    PENNYMAC LOAN SERVICES, LLC 2 5.25% $7,091
    NAVY FEDERAL CREDIT UNION 2 6.31% $8,435
    NEW DAY FINANCIAL, LLC 2 7.62% $15,975
    FREEDOM MORTGAGE CORPORATION 2 7.31% $6,760
    PNC Bank 1 6.63% $892
    RUOFF MORTGAGE COMPANY, INC. 1 6.63% $1,751
    S1L, Inc. 1 5.75% $9,637
    Sunflower Bank 1 7.75% $5,447
    The Huntington National Bank 1 7.13% $1,156
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.63% $3,205
    VILLAGE CAPITAL MORTGAGE 1 5.75% $9,619
    Barrington Bank & Trust Company, N.A. 1 6.75% $2,291
    Carrington Mortgage Services, LLC 1 6.13% $14,532
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $6,749
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $3,096
    Flagstar Bank, FSB 1 5.63% $8,053
    GUARANTEED RATE, INC. 1 5.99% $10,134
    NEWREZ LLC 1 5.75% $3,814
    PLANET HOME LENDING, LLC 1 5.99% $3,314

    The top Big Rapids VA lender as defined by loan originations is Mortgage Research Center, LLC, with 12 VA loans originated. Their average total fees are $6,241, which is $2,782 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Big Rapids VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,241), .

    The lowest rate Big Rapids VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.60%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Big Rapids (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $143,675 (2.7%) $179,623 (-7.3%) 0.00 249
    2018-02-01 $150,575 (5.9%) $188,291 (-7.5%) 0.00 232
    2018-03-01 $159,900 (7.4%) $195,372 (-3.9%) 0.00 242
    2018-04-01 $160,900 (7.3%) $192,707 (-4.9%) 0.00 252
    2018-05-01 $159,950 (6.7%) $190,158 (-4.2%) 0.00 270
    2018-06-01 $164,900 (8.5%) $191,392 (-2.2%) 0.00 273
    2018-07-01 $164,900 (3.1%) $191,342 (-3.4%) 0.00 283
    2018-08-01 $165,000 (9.5%) $191,248 (-0.5%) 0.00 285
    2018-09-01 $159,450 (6.4%) $187,960 (-0.7%) 0.00 286
    2018-10-01 $156,550 (4.4%) $184,010 (-1.7%) 0.00 268
    2018-11-01 $154,900 (3.7%) $178,751 (-2.8%) 0.00 239
    2018-12-01 $149,900 (0.0%) $174,340 (-5.8%) 0.00 230
    2019-01-01 $159,200 (10.8%) $180,673 (0.6%) 0.00 208
    2019-02-01 $160,475 (6.6%) $180,811 (-4.0%) 0.00 195
    2019-03-01 $159,229 (-0.4%) $180,725 (-7.5%) 0.00 193
    2019-04-01 $165,825 (3.1%) $189,553 (-1.6%) 0.00 210
    2019-05-01 $179,425 (12.2%) $203,415 (7.0%) 0.00 226
    2019-06-01 $181,100 (9.8%) $208,580 (9.0%) 0.00 252
    2019-07-01 $180,550 (9.5%) $209,970 (9.7%) 0.00 285
    2019-08-01 $181,018 (9.7%) $211,739 (10.7%) 0.00 290
    2019-09-01 $182,695 (14.6%) $213,951 (13.8%) 0.00 279
    2019-10-01 $185,500 (18.5%) $215,764 (17.3%) 0.00 263
    2019-11-01 $185,750 (19.9%) $219,234 (22.7%) 0.00 225
    2019-12-01 $186,950 (24.7%) $221,387 (27.0%) 0.00 208
    2020-01-01 $183,825 (15.5%) $224,919 (24.5%) 0.00 196
    2020-02-01 $194,900 (21.5%) $232,278 (28.5%) 0.00 183
    2020-03-01 $199,700 (25.4%) $241,783 (33.8%) 0.00 178
    2020-04-01 $198,500 (19.7%) $242,762 (28.1%) 0.00 177
    2020-05-01 $212,450 (18.4%) $252,302 (24.0%) 0.00 170
    2020-06-01 $216,850 (19.7%) $243,959 (17.0%) 0.00 155
    2020-07-01 $216,725 (20.0%) $239,196 (13.9%) 0.00 136
    2020-08-01 $214,900 (18.7%) $246,171 (16.3%) 0.00 120
    2020-09-01 $188,425 (3.1%) $230,086 (7.5%) 0.00 120
    2020-10-01 $179,250 (-3.4%) $225,786 (4.6%) 0.00 102
    2020-11-01 $178,900 (-3.7%) $220,650 (0.7%) 0.00 98
    2020-12-01 $164,900 (-11.8%) $215,286 (-2.8%) 0.00 76
    2021-01-01 $149,950 (-18.4%) $219,522 (-2.4%) 0.00 60
    2021-02-01 $194,425 (-0.2%) $259,166 (11.6%) 0.00 56
    2021-03-01 $213,750 (7.0%) $267,709 (10.7%) 0.00 59
    2021-04-01 $234,725 (18.3%) $267,383 (10.1%) 0.00 73
    2021-05-01 $195,000 (-8.2%) $239,886 (-4.9%) 0.00 80
    2021-06-01 $189,925 (-12.4%) $238,986 (-2.0%) 0.00 95
    2021-07-01 $209,950 (-3.1%) $251,487 (5.1%) 0.00 114
    2021-08-01 $199,675 (-7.1%) $253,115 (2.8%) 0.00 103
    2021-09-01 $188,750 (0.2%) $245,298 (6.6%) 0.00 88
    2021-10-01 $225,000 (25.5%) $256,247 (13.5%) 0.00 94
    2021-11-01 $218,225 (22.0%) $252,535 (14.5%) 0.00 94
    2021-12-01 $178,475 (8.2%) $236,847 (10.0%) 0.00 84
    2022-01-01 $187,250 (24.9%) $229,331 (4.5%) 0.00 79
    2022-02-01 $253,725 (30.5%) $252,156 (-2.7%) 0.00 70
    2022-03-01 $241,225 (12.9%) $254,184 (-5.1%) 0.00 80
    2022-04-01 $244,950 (4.4%) $258,394 (-3.4%) 0.00 86
    2022-05-01 $233,600 (19.8%) $263,740 (9.9%) 0.00 95
    2022-06-01 $249,925 (31.6%) $274,648 (14.9%) 0.00 116
    2022-07-01 $270,000 (28.6%) $309,401 (23.0%) 0.00 119
    2022-08-01 $270,750 (35.6%) $309,973 (22.5%) 0.00 116
    2022-09-01 $266,250 (41.1%) $300,188 (22.4%) 0.00 116
    2022-10-01 $289,900 (28.8%) $313,451 (22.3%) 0.00 110
    2022-11-01 $298,000 (36.6%) $322,439 (27.7%) 0.00 96
    2022-12-01 $299,000 (67.5%) $328,508 (38.7%) 0.00 95
    2023-01-01 $287,000 (53.3%) $326,775 (42.5%) 0.00 77
    2023-02-01 $312,463 (23.2%) $344,975 (36.8%) 0.00 66
    2023-03-01 $309,950 (28.5%) $352,093 (38.5%) 0.00 72
    2023-04-01 $322,500 (31.7%) $361,097 (39.8%) 0.00 76
    2023-05-01 $324,999 (39.1%) $368,672 (39.8%) 0.00 82
    2023-06-01 $316,250 (26.5%) $353,796 (28.8%) 0.00 92
    2023-07-01 $314,900 (16.6%) $340,771 (10.1%) 0.00 104
    2023-08-01 $292,500 (8.0%) $328,770 (6.1%) 0.00 121
    2023-09-01 $289,900 (8.9%) $340,626 (13.5%) 0.00 129
    2023-10-01 $287,225 (-0.9%) $353,780 (12.9%) 0.00 121
    2023-11-01 $280,000 (-6.0%) $358,774 (11.3%) 0.00 107
    2023-12-01 $257,450 (-13.9%) $358,306 (9.1%) 0.00 107
    2024-01-01 $275,800 (-3.9%) $356,465 (9.1%) 0.00 94
    2024-02-01 $283,450 (-9.3%) $348,589 (1.1%) 0.00 91
    2024-03-01 $284,450 (-8.2%) $349,403 (-0.8%) 0.00 101
    2024-04-01 $282,475 (-12.4%) $348,112 (-3.6%) 0.00 123
    2024-05-01 $294,650 (-9.3%) $371,242 (0.7%) 0.00 130
    2024-06-01 $285,000 (-9.9%) $369,240 (4.4%) 0.00 149
    2024-07-01 $286,500 (-9.0%) $367,747 (7.9%) 0.00 153
    2024-08-01 $285,000 (-2.6%) $364,626 (10.9%) 0.00 161
    2024-09-01 $281,225 (-3.0%) $355,510 (4.4%) 0.00 166
    2024-10-01 $289,175 (0.7%) $371,992 (5.2%) 0.00 173
    2024-11-01 $279,900 (0.0%) $361,724 (0.8%) 0.00 177
    2024-12-01 $269,100 (4.5%) $332,800 (-7.1%) 0.00 164
    2025-01-01 $269,075 (-2.4%) $326,243 (-8.5%) 0.00 133
    2025-02-01 $271,225 (-4.3%) $338,366 (-2.9%) 0.00 123
    2025-03-01 $274,950 (-3.3%) $340,204 (-2.6%) 0.00 119
    Big Rapids's median listing price for 2025-03-01 was $274,950, a difference of $-9,500 (-3.3%) versus the prior year and $3,725 versus the prior month.

    Big Rapids's median listing price comes in at 0% of the national average.

    Big Rapids's average listing price for 2025-03-01 was $340,204, a difference of $-9,199 (-2.6%) versus the prior year and $1,838 versus the prior month.

    For the 2025-03-01 period, Big Rapids had 119 MLS listings, a difference of -4 listings (-3%) versus the prior month and 18 listings (18%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Big Rapids (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,676 sqft
    2018-02-01 0 days 1,703 sqft
    2018-03-01 0 days 1,750 sqft
    2018-04-01 0 days 1,716 sqft
    2018-05-01 0 days 1,691 sqft
    2018-06-01 0 days 1,704 sqft
    2018-07-01 0 days 1,692 sqft
    2018-08-01 0 days 1,719 sqft
    2018-09-01 0 days 1,660 sqft
    2018-10-01 0 days 1,677 sqft
    2018-11-01 0 days 1,604 sqft
    2018-12-01 0 days 1,600 sqft
    2019-01-01 0 days 1,676 sqft
    2019-02-01 0 days 1,653 sqft
    2019-03-01 0 days 1,714 sqft
    2019-04-01 0 days 1,800 sqft
    2019-05-01 0 days 1,843 sqft
    2019-06-01 0 days 1,840 sqft
    2019-07-01 0 days 1,794 sqft
    2019-08-01 0 days 1,790 sqft
    2019-09-01 0 days 1,824 sqft
    2019-10-01 0 days 1,845 sqft
    2019-11-01 0 days 1,836 sqft
    2019-12-01 0 days 1,817 sqft
    2020-01-01 0 days 1,810 sqft
    2020-02-01 0 days 1,843 sqft
    2020-03-01 0 days 1,840 sqft
    2020-04-01 0 days 1,803 sqft
    2020-05-01 0 days 1,909 sqft
    2020-06-01 0 days 1,881 sqft
    2020-07-01 0 days 1,800 sqft
    2020-08-01 0 days 1,872 sqft
    2020-09-01 0 days 1,800 sqft
    2020-10-01 0 days 1,768 sqft
    2020-11-01 0 days 1,750 sqft
    2020-12-01 0 days 1,783 sqft
    2021-01-01 0 days 1,777 sqft
    2021-02-01 0 days 1,959 sqft
    2021-03-01 0 days 1,855 sqft
    2021-04-01 0 days 1,863 sqft
    2021-05-01 0 days 1,871 sqft
    2021-06-01 0 days 1,763 sqft
    2021-07-01 0 days 1,706 sqft
    2021-08-01 0 days 1,672 sqft
    2021-09-01 0 days 1,634 sqft
    2021-10-01 0 days 1,787 sqft
    2021-11-01 0 days 1,699 sqft
    2021-12-01 0 days 1,637 sqft
    2022-01-01 0 days 1,664 sqft
    2022-02-01 0 days 1,656 sqft
    2022-03-01 0 days 1,526 sqft
    2022-04-01 0 days 1,553 sqft
    2022-05-01 0 days 1,626 sqft
    2022-06-01 0 days 1,700 sqft
    2022-07-01 0 days 1,700 sqft
    2022-08-01 0 days 1,666 sqft
    2022-09-01 0 days 1,649 sqft
    2022-10-01 0 days 1,602 sqft
    2022-11-01 0 days 1,637 sqft
    2022-12-01 0 days 1,600 sqft
    2023-01-01 0 days 1,589 sqft
    2023-02-01 0 days 1,598 sqft
    2023-03-01 0 days 1,704 sqft
    2023-04-01 0 days 1,664 sqft
    2023-05-01 0 days 1,780 sqft
    2023-06-01 0 days 1,756 sqft
    2023-07-01 0 days 1,771 sqft
    2023-08-01 0 days 1,853 sqft
    2023-09-01 0 days 1,895 sqft
    2023-10-01 0 days 1,920 sqft
    2023-11-01 0 days 1,892 sqft
    2023-12-01 0 days 1,855 sqft
    2024-01-01 0 days 1,766 sqft
    2024-02-01 0 days 1,735 sqft
    2024-03-01 0 days 1,750 sqft
    2024-04-01 0 days 1,706 sqft
    2024-05-01 0 days 1,771 sqft
    2024-06-01 0 days 1,735 sqft
    2024-07-01 0 days 1,787 sqft
    2024-08-01 0 days 1,722 sqft
    2024-09-01 0 days 1,686 sqft
    2024-10-01 0 days 1,768 sqft
    2024-11-01 0 days 1,804 sqft
    2024-12-01 0 days 1,677 sqft
    2025-01-01 0 days 1,676 sqft
    2025-02-01 0 days 1,715 sqft
    2025-03-01 0 days 1,720 sqft
    Big Rapids's median listing age (time on market) for 2025-03-01 was 0 days.

    Big Rapids's median square footage for active listings during the 2025-03-01 period was 1,720 sqft. One year prior, the average listing was 1,750 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.